The COVID-19 pandemic has enforced significant setbacks to the French economy. Jobs are being lost daily, with largescale corporations having to strategize their operations to account for financial losses sustained during the pandemic. Another company has confirmed a large percentage of their workforce will be terminated, affecting 7500 French Civilians in the Aviation Industry. This follows after Air France announced that they’d sustained decreases in profit margins that cannot support their current workforce.
Two aviation carriers are being affected from this announced, with Air France confirming their subsidiary airline will also have 1000+ jobs terminated from its workforce. Hop Airlines will have 1,020 positions lost to the COVID-19 pandemic, with another 6,560 jobs lost to Air France. This means the total workforce being terminated is 7680.
The KLM Firm maintains priority shares in both Air France & Hop Airlines. PR Representatives with the firm indicated that recovery efforts after COVID-19 would be slower than 9/11. This means that job losses will be sustained over three years, providing a large percentage of their workforce to account for the upcoming termination. Most corporations are having to revise their operational strategies, having submitted a lengthy timeline that gives employees a chance to recover immediately.
When questioned on how these financial losses sustained with Hop Airlines & Air France, KLM Firm Representatives were pleased with the question. The answer is clear for anyone that’s reviewed continuous changes to “International Tourism Policies” with world governments. Travel restrictions & concern from tourists wanting to avoid the coronavirus in France forced these financial losses. Identical fallouts of COVID-19 have infected the international aviation industry.
€900 Million Lost
The KLM Firm confirmed that their revenues dropped by 95% during the lockdown period. It meant that €15m was being lost per day for Air France & Hop Airlines. This means their total losses over the two-month lockdown period was €900 million. PR Representatives indicated that KLM would have lost roughly €1.8 billion before 2024, which is when the airline suspects their revenue streams will begin returning to normal. How the KLM Firm plans to keep Air France & Hop Airlines running with these prolonged losses isn’t known to anyone.